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REGISTERED NUMBER: 05402842 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

KIMAX ESTATES LIMITED

KIMAX ESTATES LIMITED (REGISTERED NUMBER: 05402842)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KIMAX ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: M D J Hawkins
L Hawkins





REGISTERED OFFICE: 4 The Paddock
Llanellen
Abergavenny
Monmouthshire
NP7 9HJ





REGISTERED NUMBER: 05402842 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE

KIMAX ESTATES LIMITED (REGISTERED NUMBER: 05402842)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,448 68,085
Investment property 5 3,270,000 3,270,000
3,335,448 3,338,085

CURRENT ASSETS
Debtors 6 500 -
Cash at bank 55,704 47,417
56,204 47,417
CREDITORS
Amounts falling due within one year 7 256,764 329,345
NET CURRENT LIABILITIES (200,560 ) (281,928 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,134,888

3,056,157

CREDITORS
Amounts falling due after more than one
year

8

(298,423

)

(305,235

)

PROVISIONS FOR LIABILITIES (279,000 ) (279,000 )
NET ASSETS 2,557,465 2,471,922

CAPITAL AND RESERVES
Called up share capital 333 333
Retained earnings 10 2,557,132 2,471,589
SHAREHOLDERS' FUNDS 2,557,465 2,471,922

KIMAX ESTATES LIMITED (REGISTERED NUMBER: 05402842)

BALANCE SHEET - continued
30 JUNE 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2024 and were signed on its behalf by:





M D J Hawkins - Director


KIMAX ESTATES LIMITED (REGISTERED NUMBER: 05402842)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Kimax Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income invoiced and due in the year from its investment properties, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price plus any costs directly attributable to making the asset capable of operating as and where intended.

Depreciation is provided at the following annual rates in order to write off the cost, less estimated residual value, of each asset on a systematic basis over its estimated useful life.

Plant and machinery - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

KIMAX ESTATES LIMITED (REGISTERED NUMBER: 05402842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company pays into the director's personal pension scheme. Contributions are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 July 2022 67,760 8,666 76,426
Additions 1,231 - 1,231
At 30 June 2023 68,991 8,666 77,657
DEPRECIATION
At 1 July 2022 8,341 - 8,341
Charge for year 3,868 - 3,868
At 30 June 2023 12,209 - 12,209
NET BOOK VALUE
At 30 June 2023 56,782 8,666 65,448
At 30 June 2022 59,419 8,666 68,085

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 3,270,000
NET BOOK VALUE
At 30 June 2023 3,270,000
At 30 June 2022 3,270,000

KIMAX ESTATES LIMITED (REGISTERED NUMBER: 05402842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2014 184,639
Valuation in 2015 292,095
Valuation in 2016 75,000
Valuation in 2017 123,738
Valuation in 2019 125,000
Valuation in 2020 243,863
Valuation in 2021 230,000
Valuation in 2022 338,760
Cost 1,656,905
3,270,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,360,665 1,360,665

The investment properties were valued on an open market basis on 30 June 2023 by M D J Hawkins, a director of the company .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 500 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,187 9,503
Trade creditors - 8,927
Taxation and social security 25,126 26,445
Other creditors 223,451 284,470
256,764 329,345

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 298,423 305,235

Amounts falling due in more than five years:

Repayable by instalments
Bank loan due after 5 years 259,287 257,574

KIMAX ESTATES LIMITED (REGISTERED NUMBER: 05402842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 306,610 314,738

Bank loan creditor is secured by way of a fixed and floating charge over the assets of the company.

10. RESERVES

Included within retained earnings are non-distributable reserves relating to investment properties fair value adjustments (net of deferred taxation) amounting to £1,334,096 (2022 - £1,334,096 ).

11. RELATED PARTY DISCLOSURES

Included in creditors is an amount due to directors of £183,838 (2022: £261,903). The amount is interest free and payable on demand.